BAY SOUND TRANSPORTATION COMPANY v. UNITED STATES

No. 25729.

410 F.2d 505 (1969)

BAY SOUND TRANSPORTATION COMPANY et al., Appellants, v. UNITED STATES of America, Appellee.

United States Court of Appeals Fifth Circuit.

Rehearing Denied May 30, 1969.


Attorney(s) appearing for the Case

Paul Port, John A. Bailey, Childress, Port & Crady, Houston, Tex., for appellants.

Mitchell Rogovin, Asst. Atty. Gen., Lee A. Jackson, Harry Marselli, William A. Friedlander, Elmer J. Kelsey, Attys., Dept. of Justice, Washington, D. C., Morton L. Susman, U. S. Atty., James R. Gough, Frank C. Cooksey, Asst. U. S. Attys., Houston, Tex., for appellee.

Before GOLDBERG and MORGAN, Circuit Judges, and LIEB, District Judge.


LEWIS R. MORGAN, Circuit Judge:

These related income tax refund actions were consolidated and tried before the District Court sitting without a jury. This appeal by the taxpayers is taken from portions of twenty-six (26) judgments of the District Court. The three issues presented to this Court are:

1. Whether the taxpayers' estimated useful lives of certain vessels were "reasonable" in claiming a depreciation allowance. Section 167 of the Internal Revenue...

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